PAWSD to require voter approval of revenue bonds

During the Aug. 13 meeting of the Pagosa Area Water and Sanitation District (PAWSD) board, Director Glenn Walsh asked to add an agenda item regarding voter approval of the issue of district revenue bonds.

Walsh asked for, “A discussion with possible board action related to changing the district’s rules and regulations to forbid the issue of any revenue bond indebtedness without the vote of a majority of the district’s voters. Again, there is no documentary background other than the district’s present staggering level of revenue bond indebtedness and history of wasting tens of millions of dollars on board approved boondoggles (whether legally at public meetings or otherwise) which voters have not approved. I have already distributed my analysis of the disastrous 2006 water revenue bond which we have yet to pay any significant principal upon. I can resend that document to any board member who might find it helpful. That bond issue is in my opinion the template of reckless slush fund spending which has plagued the district.”

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